Shares of Nasdaq-listed bitcoin mining company CleanSpark rose over 13% on Monday after the corporate announced a strategic expansion into artificial intelligence.
CleanSpark, the fifth-largest Bitcoin (BTC) mining company by market capitalization, announced a brand new technique to expand into AI data center infrastructure, geared toward diversifying its revenue streams and strengthening long-term money flow potential.
To lead the initiative, the corporate named Jeffrey Thomas senior vp of AI data centers, CleanSpark announced Monday.
Thomas previously led Saudi Arabia's multi-billion dollar AI data center program as former president of AI data centers at Saudi AI company Humain. According to the announcement, he has created greater than $12 billion in shareholder value across 19 ventures over the course of his profession.
CleanSpark announced strategic expansion towards AI. Source: CleanSpark.com
“We have reviewed your complete portfolio from initial contracting to evaluate AI readiness and have identified Georgia as a strategic region for each potential transition and expansion,” wrote Scott Garrison, chief development officer and executive vp at ClearSpark, adding:
“We recently entered into an agreement for extra power and real estate capability in College Park to offer high-quality computing power to the Atlanta metropolitan area and are currently evaluating giga-campus opportunities across the portfolio and pipeline which can be well positioned to fulfill significant demand from offtakers.”
Shareholders welcomed the strategic expansion as CleanSpark's share price rose over 13% on Monday, after rising 140% in 2025 to date, in keeping with data from Google Finance.
Bitcoin miners are in search of recent sources of income amid post-halving pressures
CleanSpark's strategic pivot comes as post-Bitcoin halving pressures push other mining corporations to explore recent revenue streams.
Some of the biggest Bitcoin mining corporations have announced similar AI strategic moves since early 2024, including Core Scientific, Hut 8 and Iris Energy.
In June 2024, Core Scientific announced a $3.5 billion take care of AI cloud provider CoreWeave to offer a further 200 megawatts of infrastructure for CoreWeave's high performance computing (HPC) hosting operations.
According to Cointelegraph, the deal is anticipated to generate over $3.5 billion in cumulative revenue for the world's largest Bitcoin mining company in the course of the contracts' initial 12-year term.
The strategic expansion into AI saved the Bitcoin miner's business model as Core Scientific filed for Chapter 11 bankruptcy in 2022, two years before it re-listed on Nasdaq ahead of its AI pivot.
Bitcoin mining company Hut 8 ventured into AI services in September 2024 after launching a GPU-as-a-service offering through a brand new subsidiary, Highrise AI.
In June, Hut 8 received a $150 million investment from technology-focused investment manager Coatue Management to assist the corporate “capitalize” on growing demand for AI computing power.
